Any of you ignorant a-holes watchin Obama?
- Thread starter coondogg26
- Start date
The fact of the matter remains that the economy will not get better unless the lines of credit are "unfrozen" and banks are able to give loans to people who need them. Thats were the real jobs are gonna be created. Obama's bill will create alot of short term jobs but its about all he can do right now, short of nationalizing the banking system which would have horrible consequences. Once the banks are able to get rid of some of their more riskier investments and holdings they will be able to access cash and rid some of their debts and then they can start lending again, but thats gonna take a long time.
There is no one magic bill that is gonna solve this problem. Obama got stuck with a real messed up situation and it will be interesting to see how his plan will actually unfold.
There is no one magic bill that is gonna solve this problem. Obama got stuck with a real messed up situation and it will be interesting to see how his plan will actually unfold.
A quote from Peter Schiff's book 'The Little Book of Bull Moves in Bear Markets'
"In my view, there is a real possibility that a new administration in Washington will confront its economic challenges with New Deal-type programs that will only exacerbate the damage and turn the current recession into a repeat of the Great Depression, only with the consumer prices rising instead of falling. As I write this in Mid-2008, the government still claims the US economy is not in recession. This absurdity is premised on not having two consecutive quarters of negative economic growth, the widely accepted definition of recession. However, with the government determining the GDP and using highly suspect inflation rates with which to adjust the nominal rise, we may never officially be in a recession. With the automobile, airline, and housing industries in outright collapse and our banking and financial system on government life support, grim reality once again conflicts with government fantasy."
"In my view, there is a real possibility that a new administration in Washington will confront its economic challenges with New Deal-type programs that will only exacerbate the damage and turn the current recession into a repeat of the Great Depression, only with the consumer prices rising instead of falling. As I write this in Mid-2008, the government still claims the US economy is not in recession. This absurdity is premised on not having two consecutive quarters of negative economic growth, the widely accepted definition of recession. However, with the government determining the GDP and using highly suspect inflation rates with which to adjust the nominal rise, we may never officially be in a recession. With the automobile, airline, and housing industries in outright collapse and our banking and financial system on government life support, grim reality once again conflicts with government fantasy."
I always get that "Give Obama a chance" bullshit. No i am not going to give him a chance!
You guys are just looking at the short term effects, i'm looking at the long term effects and the long term is going to be hell. Full of Stagflation and Hyperinflation.
Yes i am negative because Obama is doing negative things.
Everybody acts like Obama gives a shit about us, he's just another Bush, more spending and more war.
You guys are just looking at the short term effects, i'm looking at the long term effects and the long term is going to be hell. Full of Stagflation and Hyperinflation.
Yes i am negative because Obama is doing negative things.
Everybody acts like Obama gives a shit about us, he's just another Bush, more spending and more war.
